The size of the global polymethyl methacrylate (PMMA) market was evaluated at USD 5.2 billion in 2021 and is projected to reach USD 8.6 billion by 2030.
Methyl methacrylate is polymerized to create polymethyl methacrylate, also known as PMMA, which is a transparent synthetic thermoplastic. One major factor anticipated to continue to boost expansion of the worldwide polymethyl methacrylate market is the rising demand for lightweight, environmentally friendly plastic material from various end-use industries. Materials made of polymethyl methacrylate are used for partition walls, cosmetics packaging, etc. These bio-based PMMA plastics can also be employed in medical procedures like implant placement, orthopaedic surgery, and the creation of prosthetic teeth. A important element promoting the growth of the PMMA market is technological development and research into bio-based polymethyl methacrylate or sustainable plastic materials in developing nations. Due to its superior qualities over glass, such as greater durability, more inexpensive manufacture, scratch resistance, UV light protection, and ease of manufacturing, polymethyl methacrylate is a clear plastic that is frequently used as a substitute for glass.
It is also projected that growing demand for polymethyl methacrylate (PMMA) bone cement and fillers in the healthcare sector would create new revenue-generating opportunities for PMMA suppliers. Over the next 10 years, it is projected that the development of bio-composite and eco-friendly polymethyl methacrylate would offer highly lucrative chances in the market.
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According to end-use industry, the automotive sector of PMMA is anticipated to experience the quickest growth during the forecast period. PMMA is frequently utilised in the automobile sector since it is both lightweight and weatherproof. It is utilised in taillights, side windows, windshields, windscreens, headlamps, rear lights, metre panels, sun visors, tail lamp covers, speedometer covers, and signal lamps in addition to other external lighting fixtures. PMMA is utilised in electric vehicles (EVs) because it performs better than conventional polymers and other materials in terms of performance. The government’s initiatives supporting EVs and the shifting regulatory landscape help the PMMA sector expand.
Growing need for face shields, LED flat screens, the market’s transition to it as a substitute for glass and polycarbonate, and rising demand for the automotive and transportation sectors due to its 100% recyclable nature are the reasons that are propelling the polymethyl methacrylate market. The market is being constrained by issues like high production costs, a scarcity of raw materials, and declining demand in the auto sector.
Global Polymethyl Methacrylate (PMMA) Market: Major Players
LG Chem
Lucite International
RTP Company
Unigel
Chi Mei Corporation
Sumitomo Chemical Asia Pte Ltd
Mitsubishi Chemical Corporation
ALBIS PLASTIC GmbH
Arkema
3A Composites GmbH
KURARAY CO., LTD
FORHOUSE CORPORATION
SABIC
Heilongjiang Zhongmeng Longxin Chemical Co., Ltd.
LOTTE Chemical CORPORATION
Asahi Kasei Corporation
Kolon Industries, Inc.
Makevale Group
NIPPON SHOKUBAI CO., LTD
Evonik Industries AG
GEHR Plastics, Inc.
Global Polymethyl Methacrylate (PMMA) Market: Types
Extruded Sheet
Pellets
Beads
Others
The Polymethyl Methacrylate (PMMA) research report will also study market share for major stakeholders in their global capacity as transformers of the global scale. This qualitative and quantitative analysis will include key product offerings, key differentiators, revenue share, market size, market status, and strategies. The report will also cover key agreements, collaborations, and global partnership soon to change dynamics of the market on a global scale.
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Study Objectives
The specific objectives of this market report on the polymethyl methacrylate market are given below:
- To give details about the technological know-how of the Polymethyl Methacrylate industry.
- To provide an overview of the regional market and potentially growing segments.
- To identify the key players of the industry.
- To provide a complete overview of the Polymethyl methacrylate market.
- To analyze and forecast the Polymethyl methacrylate market in terms of value and volume.
- To identify the problems and prospects of the Polymethyl methacrylate market.
